Statements

Question 1

What is the definition of a special order

Answer 1

an order to a business that do not match its usual provision standards (different quantity or price)

Question 2

What needs to be taken into account before accepting a special order

Answer 2

• capacity
• client relations
• potential profitability
• contribution of order

Question 3

what is the difference between a mission and vision statement

Answer 3

mission statement outlines the purpose of the organisation and the vision statement outlines the future aspirations of the business

Question 4

What is the difference between aims and objectives

Answer 4

Aims are the long term goals of the business and objectives are their numerical expressions which are usually more short term

Question 5

what are some pros of mission and vision statements

Answer 5

• identify a clear direction for the business
• inform stakeholders
• motivate employees
• guide decision making

Question 6

What are some negatives of vision and mission statements

Answer 6

• they can be vague
• unrealistic assumptions
• time consuming possibly